Industrial production falls for the 15th month in a row. In April, a decline of 2.9% on an annual basis

Fifteenth consecutive month of decline for industrial production which, as reported by Istat, last April fell by 2.9% compared to the same month of 2023. In comparison with March the decline is 1%, worse than forecasts by analysts who glimpsed a little progress. On average for the period February-April there was a drop in the level […]

Fifteenth consecutive month of decline in industrial production which, as Istat reports, was last April backward by 2.9% compared to the same month of 2023. In comparison with March the drop is 1%, worse than forecast of analysts who glimpsed a little progress. On average for the February-April period there was a drop in the level of production of 1.3% compared to the previous three months. Compared to April 2023, the declines are particularly marked for the textiles and clothing (-13.1%) and means of transport (-9.3%). Significant decline also for mechanics, the most important sector of our industry, down by 4.1%. Chemical production fell by 3.1%. Positive sign, vice versa, forfood industry (+ 2.1%), pharmaceuticals (+4.4%) and electronics (+1.4%). Italian industry suffers from Germany’s slowdown, returning from 2023 with a 0.3% drop in GDP and still slow in recovery. This is especially true for the mechanical industry of Northern Italy which is strongly integrated into German production chains. “A tsunami is hitting our industries. A Caporetto”, comments the president of the National Consumers Union Massimiliano Dona.